Housing, not unlike other assets classes have expectations baked into the price at purchase. However those expectations are not entitlements to future outcomes,

Housing, not unlike other assets classes have expectations baked into the price at purchase. However those expectations are not entitlements to future outcomes, unless you also purchased the rights to the variables at hand. (Ex: the only way to make sure someone doesn't move in next door is to buy the house nextdoor) Essentially the benefit of private parties not developing on their property is an externality of their decision. Of course government interventions often address externalities as many a Nimby have figured out.